The introduction of the MANTA token to exchanges initially resulted in a price surge. However, the token’s value experienced a downturn, dropping by over 5%, following a controversial move by the project’s Korean Business Development representative. The representative sold 2 million MANTA coins, converting them into a substantial amount of Ether.
Even with the price volatility and the attack, Manta Network continues to hold a significant position in the market, boasting a market capitalization exceeding $533.99M post-incident. The network is acknowledged for its high total value locked (TVL), underscoring its status as a key player in the blockchain scalability arena.
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Source: Cryptocurrency - investing.com
